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It won't outsell the Gamecube, that much is pretty much certain.

But just as I didn't care if the Gamecube sold a crapload of units, I don't care if the Wii U don't sells a crapload of units.
Right now, it's the only current gen system I own. And I have a blast with it. That's really all that matters to me.

Nintendo will survive the lack of sales of the Wii U, and will eventually produce an other hit console. Probably never on the scale of the original Wii, but again, I'm fine with that. As long as they keep on producing stellar games I enjoy, all's ok in NintendoLand.